(Definition of âchamberâ from the Cambridge Advanced Learnerâs Dictionary & Thesaurus Â© Cambridge University Press) chamber in American English See all translations
A book for keeping notes, especially one for keeping accounting records. ledger (Noun). : A collection of accounting entries consisting of credits and debits. ledger (Noun). : A board attached to a wall to provide support for attaching other structural elements (such as deck joists or roof rafters) to the building.
The general ledger is where the company records all the information for its various income streams and expense types into separate accounts, so that all the credits and debits relating to that particular type of transaction can be entered in one place and kept balanced.